Vibenomics

The Sights and Sounds of Retail Media In-Store

In-Store: Where ‘Shoppable Ads’ Have a Different Meaning

The line between online and in-store shopping is becoming increasingly blurred in today’s digital age. As consumers navigate a world saturated with ads, the key to success is creating advertisements that are not just seen but acted upon. This is where the concept of “shoppable ads” comes into play, transforming ordinary ads into powerful drivers of purchase intent.

But first, what are shoppable ads? Shoppable ads are a form of interactive advertising that allows consumers to make purchases directly from the ad itself. These ads typically feature products or services with clickable links or buttons that take users to a website or app where they can complete the purchase immediately upon viewing. Shoppable ads can appear on various platforms, including social media, websites, and mobile apps. 

In digital advertising, platforms like TikTok, Instagram, and other social channels have revolutionized how brands connect with consumers. With their highly engaging content and targeted approach, these platforms offer a unique opportunity to reach audiences. However, they often fall short of converting these interactions into sales, especially compared to in-store shopping experiences.

In-store digital advertising excels in this aspect, mainly through digital displays and audio. Unlike social media ads, which typically engage consumers while they scroll through their feeds, in-store ads connect with shoppers when they are physically near the product. 

Picture a mother strolling down a grocery store aisle and encountering a digital display ad highlighting a familiar backpack brand she’s been eyeing online. The mother didn’t know that the grocery store would even sell backpacks, but now that the ad brought product awareness, she decided to go to the school supplies aisle and check out the size and quality of the backpack. She’s impressed with the backpack and throws two in her cart for her children! 

What’s special about in-store ads is their ability to prompt consumers into engaging with the promoted product, allowing them to inspect the item’s quality, feel its texture, compare prices, and purchase. This immediate physical interaction and the ability to choose exactly what they want and take it home immediately is the driving force behind why 90% of purchases take place in-store (National Retail Federation).

Similarly, in-store audio advertising adds another layer of engagement, creating a seamless shopping experience. As consumers move through the store, they are accompanied by targeted audio ads that guide them directly toward relevant products and promotions. This audio backdrop enhances the shopping ambiance and prompts consumers to take action, whether trying a new product or taking advantage of a limited-time offer. 

Additionally, audio can reach all four corners of the store, ensuring every consumer gets all these engaging messages. Returning to the mom in the previous example, imagine her pushing her cart down the grocery aisles, focused on her shopping list. Suddenly, she hears a cheerful voiceover promoting back-to-school backpacks over the store’s sound system. It reminds her of the upcoming school season and prompts her to check out the seasonal section. Without this audio ad, she might have overlooked the backpacks entirely. But thanks to the in-store audio ad, she remembers her need for school supplies and makes the purchase then and there!

Vibenomics recently ran a study that found 73% of consumers recalled hearing the in-store audio (Vibenomics Audio In-Store Suzy, April 2024). This highlights the effectiveness of in-store audio advertising in capturing consumer attention and creating a lasting impression, unlike online shoppable ads that may be easily forgotten once the user closes the ad.

In conclusion, while online digital ads have their place in the advertising landscape, in-store digital advertising offers a unique advantage. By reaching consumers when they are closest to the product, in-store ads transform the shopping experience into a truly “shoppable” moment. By harnessing the power of in-store digital advertising, brands can create meaningful connections with consumers and drive real-world sales like never before.

Getting Started with Vibenomics

Vibenomics, a Mood Media Company, is the leading in-store digital provider with a combined in-store network with Stingray Advertising. Our in-store network reaches over 170 million monthly unique shoppers and 1 billion monthly shopping visits in the United States.

Ready to enhance your in-store advertising game with in-store audio? Engage with Vibenomics today and make 2024 a year of unparalleled success for your in-store campaigns.

The New Advertising Powerhouse: In-Store Outperforms Linear TV

In today’s fast-paced digital age, advertisers and brands are constantly seeking innovative ways to capture consumers’ attention and drive sales. Traditional linear TV advertising has long been a staple in marketing strategies. However, a recent study by Merkle suggests that in-store advertising may be the new frontier for reaching and engaging with consumers at scale.

The Rise of In-Store Media

The study reveals that in-store media is now a primary focus for 33% of retailers, up from just 9% in 2022. Physical stores are becoming the go-to for national brands due to fast reach, high attentiveness, and younger audiences.

Outperforming Linear TV

According to the study, in-store advertising has shown remarkable effectiveness in driving online and offline sales, outperforming linear TV advertising in several key metrics. In-store advertising is an attractive option for advertisers looking to maximize their return on investment.

Leveraging In-Store Advertising

Final Thoughts

The study by Merkle highlights the significant potential of in-store advertising as a powerful tool for brands looking to connect with “unreachable” audiences who are no longer easily targeted by traditional ad channels. As the retail media landscape evolves, advertisers should consider allocating more of their budget toward in-store digital advertising to capitalize on this growing trend.

Getting Started with Vibenomics

Vibenomics, a Mood Media Company, is the leading in-store digital provider with a combined in-store network with Stingray Advertising. Our in-store network reaches over 170 million monthly unique shoppers and 1 billion monthly shopping visits in the United States.

Ready to enhance your in-store advertising game with in-store audio? Engage with Vibenomics today and make 2024 a year of unparalleled success for your in-store campaigns.

Vibenomics is Redefining Retail Media

Vibenomics, a pioneer in in-store audio advertising, has teamed up with Microsoft Advertising to transform the retail media landscape. This innovative partnership harnesses Vibenomics‘ expansive network of over 170 million unique monthly shoppers, delivering an efficient, scalable, and easily implementable solution that seamlessly links digital campaigns to physical shopping experiences.

This extensive reach establishes an ideal partnership for collaborating and integrating in-store channels. Vibenomics supplies the hardware, while Microsoft Retail Media handles measurement, offering unified reporting and attribution across channels. This pilot aimed to develop an omnichannel retail media solution that merged onsite and in-store channels.

Unified Solution

Vibenomics collaboration with Microsoft Advertising is a game-changer for several reasons. Firstly, it offers a unified solution for the programmatic deployment of digital and in-store media, complete with robust measurement and attribution capabilities. This approach measures the influence of joint exposure across channels and ensures that brands can effectively track the impact of their campaigns.

Post-Covid Shift

Secondly, in a post-Covid world where brands are reallocating their marketing investments to focus more on in-store sales, programmatic in-store media offers a swift and effective way to reach customers within critical retailers. This shift in strategy highlights the importance of integrating digital and physical marketing efforts to drive sales and enhance the overall customer experience.

No More Disconnect

Another key benefit of this partnership is eliminating the disconnect between brand marketing and in-store consumer behavior. Programmatic in-store media enables brands to launch and adjust campaigns quickly, aligning with the faster timelines of digital media. This agility ensures that brands stay ahead of the competition and capitalize on emerging trends in real-time.

Omnichannel Excellence

Lastly, this partnership sets a new standard for retail media by offering integrated onsite, offsite, and in-store capabilities. This omnichannel approach allows brands to engage with customers at every touchpoint, delivering a seamless and cohesive brand experience across all channels. 

The success of this approach is exemplified in our work with a leading CPG brand, where we achieved remarkable results. By combining onsite, offsite, and in-store strategies, we helped the brand achieve a:

These outcomes underscore the significance of integrating in-store audio with e-commerce as a retail media strategy. The end result is a compelling case for brands looking to enhance their market effectiveness and deliver impactful experiences to their customers.

Final Thoughts

The collaboration between Vibenomics and Microsoft Advertising marks a significant milestone in the evolution of retail media. By leveraging the power of in-store audio advertising and digital marketing tactics, brands can now create more impactful campaigns that drive sales and enhance the overall customer experience.

“We’re excited about collaborating with Microsoft Advertising to bring omnichannel retail media capabilities in-store. Our expertise in infusing in-store audio and display experiences within the broader shopping journey complements Microsoft’s strength in measuring true campaign impact across online and offline touchpoints. This integration demonstrates the vast potential of unifying digital and physical channels to immerse audiences while providing advertisers transparency into what messages inspire action.”

Paul Brenner, SVP of Retail Media and Partnerships at Vibenomics, a Mood Media Company

Getting Started with Vibenomics

Vibenomics, a Mood Media Company, is the leading in-store digital provider with a combined in-store network with Stingray Advertising that reaches over 170 million monthly unique shoppers and 1 billion monthly shopping visits in the United States. Our platform provides a single, all-in-one retail media network, empowering advertisers to deliver an on-premise experience and to connect with consumers via display, audio, and experiential channels. 

Ready to enhance your in-store advertising game with in-store audio? Engage with Vibenomics today and make 2024 a year of unparalleled success for your in-store campaigns.

Unwrap Holiday Shopping Trends

The holiday season is upon us, and with it comes the festive flurry of gift-giving, feasting, and merry-making. Understanding the nuances of holiday shopping behaviors is crucial for retailers aiming to make the most out of this season. 

Vibenomics, in collaboration with Suzy Market Research, has gathered valuable insights into the minds of consumers during this festive period. Let’s explore critical findings from the data and dive into how in-store audio advertising can play a pivotal role in enhancing the holiday shopping experience.

The In-Store Shopping Trend

78% of consumers plan to do their holiday shopping in-store (Vibenomics Suzy Market Research, Oct. 2023). This data point indicates a strong inclination towards the traditional brick-and-mortar shopping experience, emphasizing the importance of optimizing in-store strategies to capture the attention of holiday shoppers. 

Store Preferences

Breaking down the in-store shopping trend further, 36% of consumers plan to do most of their holiday shopping at grocery stores, 31% at dollar and discount stores, and 22% at home improvement stores (Vibenomics Suzy Market Research, Oct. 2023). Understanding these preferences allows retailers to tailor their shopping experiences and brands to adjust their marketing efforts to specific audiences and merchandise accordingly.

Holiday Deal Seekers

Holiday deals are a significant draw for shoppers, with 61% expressing their intent to take advantage of retailer/brand-specific holiday sales (Vibenomics Suzy Market Research, Oct. 2023). This statistic presents an opportunity for retailers to strategically promote their holiday offers and capture the attention of bargain-seeking consumers.

Product Preferences

77% of consumers plan to purchase groceries during the holidays, followed closely by 68% for holiday-themed food/snacks and 54% for adult beverages (Vibenomics Suzy Market Research, Oct. 2023). Retailers can leverage this information to curate unique holiday-themed displays and strategically position products to meet consumer demands.

Factors Influencing Purchases

Regarding decision-making, consumers prioritize price, quality, and promotions/sales. This data emphasizes the importance of offering competitive prices, maintaining high product quality, and effectively communicating promotional offers to sway consumer choices.

The Role of In-Store Audio Advertising

In this landscape of holiday shopping preferences, in-store audio advertising emerges as a powerful tool for retailers. Vibenomics data supports the idea that audio advertising can significantly impact product discovery, brand sales, and overall shopping experience. Here’s how:

Conclusion

As retailers gear up for the holiday rush, understanding the intricacies of shopper behavior is crucial. Vibenomics Suzy Market Research on Holiday Shopping Behaviors provides valuable insights that can guide brands and retailers in tailoring their strategies to meet consumer expectations. By incorporating in-store audio advertising, retailers can elevate the holiday shopping experience, driving sales and creating lasting connections with consumers in this joyous season!

Getting Started with Vibenomics 

Vibenomics, a Mood Media Company, is the leading in-store digital advertising provider with 23,600+ shopping locations in the U.S. Our platform provides a single, all-in-one Retail Media network, empowering advertisers to deliver an on-premise experience and to connect with customers via display, audio and experiential channels. 

Ready to learn how Vibenomics can elevate your Retail Media strategy with in-store audio? Click here to engage with Vibenomics today!

About Suzy Enterprise Market Research 

Suzy Market Research is a comprehensive consumer insights platform seamlessly incorporating AI-driven quantitative and qualitative research and top-tier audiences within a unified research cloud. With the endorsement and trust of more than 500 prominent brands spanning 22 industries, the Suzy platform has solidified its reputation.

Top Takeaways from P2PI Live 2023

In the dynamic world of retail, where the intersection of physical and digital realms shape the landscape of consumer engagement, the P2PI Live 2023 event emerged as a beacon of insights and innovations. 

This year’s event delved into the pressing issues facing retailers and marketers, unveiling strategies to bridge the ever-widening gap between the physical and digital divide. Join us as we unravel the key highlights and takeaways from P2PI Live 2023, where industry leaders explored the evolving nature of consumer preferences and ushered in a new era with “Return on Relationship” (RoR) taking center stage as the new metric of success.

The Need to Bridge the Physical and Digital Divide

In the engaging session titled “Better Together: Innovating the Future of Omnichannel Retail Media,” a distinguished panel featuring Paul Brenner from Vibenomics, Nate Pinkston from Microsoft Advertising, and moderated by Andy Murray of bigQUEST explored the transformative partnership between Vibenomics and Microsoft Advertising. 

Nate emphasized Microsoft Advertising’s broad perspective on retail media and the crucial need to bridge the gap between the physical and digital realms. The discussion delved into the increasing interest in in-store media, catalyzed by industry recognition and resources like the IAB Retail Media Buyer’s Guide

A key takeaway was the collaborative study’s objective: integrating e-commerce and in-store programmatic for proof of performance. The panel highlighted the significance of measuring the effectiveness of joint exposure to in-store and onsite tactics, emphasizing the commitment and collaboration required for successful analytics.

Paul and Nate presented compelling case study results, revealing a substantial 40% rise in household spending and a 50% increase in category share when compared to the isolated implementation of either tactic. The conversation underscored the importance of commitment and collaboration, highlighting Microsoft’s dedicated involvement. The panel encouraged active engagement from brands in this evolving space, recognizing the sophistication and testing required for successful analytics. 

Looking to the future, the panel advocated for a “better together” approach, unveiling an aggressive go-to-market strategy. Paul and Nate offered a glimpse into the exciting trajectory of their partnership, hinting at continued innovation and collaboration in the dynamic realm of omnichannel retail media. The session illuminated the current retail landscape and showcased the potential for transformative partnerships to shape the future of retail advertising.

Retailers Need to Cater to Evolving Consumer Preferences

In the informative session titled “Turning Insights to Inspiration: A Journey into In-Store Consumer Motivation,” by Jaime Bettencourt of Mood Media and Cyndi Loza of P2PI, key takeaways emerge regarding the significance of the in-store experience. The audience profile in Mood Media and P2PI’s “Engaging Shoppers In-Store Report” reveals that 52% of individuals shop in physical grocery and supermarket locations.

Jaimie identified two pivotal areas of consumer engagement: shaping perceptions to attract shoppers and engaging experiences that drive passive to active engagement. The discussion emphasizes the role of sensory elements, such as scent,  with case studies highlighting the impact in establishments within Hospitality, Grocery, Retail Verticals, all utilizing technology to bring products to life. 

Notably, 37% of consumers enjoy discovering new products at retailers, presenting an opportunity for in-store marketers. Customer trends underscore the importance of creating moments for learning, providing hands-on experiences, and making interactions personal, relevant, and meaningful. A practical example is cited in a well known women’s clothing and beauty retailer, employing wireless tabletop displays to enhance flexibility with different merchandise displays. 

The key takeaways stress the need for retailers to strategically shape perceptions, employ engaging experiences, and leverage technology to cater to evolving consumer preferences. 

Return on Relationship Is The New ROAS

The illuminating session titled “Return on Relationship – The New ROAS” delved into the evolving dynamics of retail media from industry experts Kelly Kachnowski from The Mars Agency, Jeffrey Bustos from IAB, and Vin Lay from Albertsons Media Collective. 

The key takeaways from their insights emphasize the importance of a holistic approach to retail media success, stressing collaboration among partners and the implementation of comprehensive measurement strategies. The extensive measurement of media delivery and engagement encompasses metrics such as impressions, click-through rates (CTR), views, and completion percentages. Evaluating shopping actions involves assessing store foot traffic, coupon clicks, and samples delivered. Conversion is found through attributed sales, return on ad spend (ROAS), percentage of new buyers, and sales lift, with an added value measured by distribution and return on relationships (ROR).

A central theme emerged around aligning values and harmonizing Key Performance Indicators (KPIs) for mutual benefit, encouraging a culture of continuous education and innovation. The panel emphasized the necessity of collaboration among brands, agencies, and retailers for impactful results, stressing the importance of long-term, cross-functional goals and a commitment to continuous testing in the ever-evolving retail landscape. 

The session underscored the nuanced dynamics of retail media, advocating for a collaborative and strategic approach to seamlessly integrate physical and digital experiences in a truly omnichannel retail landscape.

Final Thoughts

The Path to Purchase Institute LIVE event was a beacon of enlightenment, unraveling the intricate threads of the ever-evolving retail media landscape. From transformative partnerships and in-store motivation to redefining Return on Relationship, each insight offered a glimpse into the future of retail. 

As industry leaders pave the way for a truly omnichannel retail experience, the future appears promising and filled with opportunities for those ready to embrace the dynamic changes in the retail world. Collaboration, innovation, and the seamless integration of physical and digital experiences are the cornerstones of success in this dynamic industry!

About Path to Purchase Institute 

Path to Purchase Institute (P2PI) is a global association that provides insights, knowledge, and networking opportunities to consumer goods professionals involved in the path to purchase. P2PI offers a variety of resources, including research reports, case studies, webinars, and events, to help its members stay up-to-date on industry trends and best practices. 

Getting Started with Vibenomics 

Vibenomics, a Mood Media Company, is the leading in-store digital advertising provider with 23,600+ shopping locations in the U.S. Our platform provides a single, all-in-one Retail Media network, empowering advertisers to deliver an on-premise experience and to connect with customers via display, audio and experiential channels. 

Ready to learn how Vibenomics can elevate your Retail Media strategy with in-store advertising? Click here to engage with Vibenomics today!

Mastering The Omnichannel Approach with Retail Media

Retail Media has evolved beyond traditional advertising in today’s fast-paced digital landscape. Brands and retailers constantly seek innovative ways to engage consumers across various channels. One strategy that’s gaining immense traction is the omnichannel approach. This approach enhances consumer experiences and drives sales and brand loyalty.

The Rise of Omnichannel Retail

Omnichannel retail is more than just a buzzword; it’s a comprehensive strategy that seamlessly integrates all marketing channels throughout the shopping journey. Brands strive to provide a consistent and unified shopping experience with brick-and-mortar stores, e-commerce websites, mobile apps, and social media platforms. 

The Customer-Centric Advantage

A successful omnichannel strategy requires a deep understanding of the modern customer. Today’s consumers are tech-savvy and demand convenience, personalization, and immediate access to information. According to DevPro Journals’ Consumer Product Content Benchmark Report (2022), 81% of consumers expect uniformity in a brand’s product content experience across all touchpoints. Retailers that can meet these expectations are better poised for success.

Critical Elements of a Successful Omnichannel Strategy 

Benefits of a Successful Omnichannel Strategy 

Conclusion

The omnichannel approach is no longer a choice but a necessity for businesses looking to thrive in the digital age. By harnessing customer data, providing seamless shopping experiences, personalizing content, and leveraging real-time analytics, retailers can meet the evolving demands of modern consumers and gain a competitive edge in the retail landscape. It’s time to embrace the omnichannel revolution and unlock the full potential of Retail Media!

Getting Started with Vibenomics 

Vibenomics, a Mood Media Company, is the leading in-store digital advertising provider with 23,600+ shopping locations in the U.S. Our platform provides a single, all-in-one Retail Media network, empowering advertisers to deliver an on-premise experience and to connect with customers via display, audio and experiential channels. 

Ready to unlock the full potential of your omnichannel strategy with Vibenomics’ innovative in-store solutions? Click here to engage with Vibenomics today! 

2024 Retail Trends: Creating a Digital, Seamless, and Personalized Shopping Experience

The retail industry is on the cusp of a significant transformation as we approach 2024. Technology advancements are reshaping the way consumers interact with and shop for products. The following trends are set to redefine the in-store experience: 

Digitization of In-Store 

As consumer expectations continue to shift, retailers are finding innovative ways to bridge the gap between the physical and digital realms. In-store audio will be pivotal in driving a store’s digitization efforts. In-store audio ads enhance the overall shopping experience by providing relevant product information, promotions, and announcements directly to customers’ ears. This personalized approach not only improves customer engagement but influences purchase decisions. 

In-store audio ads are becoming an indispensable tool for retailers looking to embrace digitization. These strategically placed advertisements within physical retail environments offer a seamless connection between the tangible and the digital. This technology harnesses the power of sound to engage customers in a more personalized and meaningful way.

Digital signage will also play a key role in driving a store’s digitization efforts. Interactive display ads will engage and inform shoppers, providing real-time product information, promotions, and even suggestions. These digital displays will serve as valuable touchpoints for brands to connect with consumers at the point of purchase. 

Embracing an Omnichannel Approach

Advertising is no longer limited to a single channel. The omnichannel approach aims to provide customers with a consistent and integrated shopping experience, whether in-store or online. According to DevPro Journals’ Consumer Product Content Benchmark Report (2022), a staggering 81% of consumers expect uniformity in a brand’s product content experience across all touchpoints. 

In-store audio ads are vital in helping stores seamlessly adopt this approach. Audio ads positioned strategically within physical stores, these audio ads effectively bridge the gap between the in-store experience and onsite and offsite channels. They offer customers valuable information about products and promotions, ensuring a cohesive brand experience across all shopping avenues.

Personalization Takes Priority 

Consumers today appreciate a personalized and convenient shopping experience. In-store audio enables brands and advertisers to tailor their messages to the specific context and audience. For example, consider a Los Angeles grocery store that attracts a majority of health conscious shoppers; they can utilize in-store audio to advertise a special offer on organic produce. In contrast, a suburban Chicago grocery store, whose primary shoppers are  mothers, can use in-store audio to promote discounted snack packs for children’s lunches. This personalized approach ensures that the right message reaches consumers at the right time!

In the age of data-driven marketing, personalization is critical. By analyzing a retailer’s first-party data, brands can target shoppers with ads that align with their interests and buying habits. This level of personalization increases the likelihood of making a sale and fosters a deeper connection between the customer and the brand.

However, as we move toward these exciting trends, there are some considerations to keep in mind: 

Final Thoughts

2024 is poised to revolutionize the retail industry. With the digitization of in-store, an omnichannel approach, and an unwavering focus on personalization, consumers can anticipate a more convenient, engaging, and tailored shopping journey. As retailers embrace these trends, they are adapting to changing consumer needs and shaping the future of in-store shopping!

Getting Started with Vibenomics 

Vibenomics, a Mood Media Company, is the leading in-store digital advertising provider with 23,600+ shopping locations in the U.S. Our platform provides a single, all-in-one Retail Media network, empowering advertisers to deliver an on-premise experience and to connect with customers via display, audio and experiential channels. 

Ready to learn how Vibenomics can elevate your Retail Media strategy with in-store audio? Click here to engage with Vibenomics today!

About Mood Media Company

Mood Media is the world’s leading experiential media company providing music, messaging, digital signage, AV systems and scent. Mood Media’s solutions make every shopping and guest experience more personal and more engaging. Their fully-integrated solutions leverage advanced digital technology, curated and original creative content, and design expertise to deliver meaningful customer experiences that drive sales. Explore Mood Media’s in-store solutions here!

The Power of Sound: The Importance of Retail Media In-Store

Picture yourself strolling into your local grocery store with a handwritten Labor Day shopping list. As you enter the store and weave through the aisles, a catchy familiar tune fills the air, infusing your shopping journey with energy. Amidst this musical backdrop, an artfully crafted audio ad takes center stage, emanating from the store’s speakers. This clever in-store promotion, perfectly tailored for the upcoming events, captivates your attention and weaves a compelling narrative.

The persuasive allure of the audio ad not only highlights a limited-time discount on an appealing product, but also provides clear directions to their location in an aisle or store department. Intrigued by the offer, you find yourself irresistibly drawn to explore this enticing deal. Although you initially planned for the items on your list, the magnetic pull of the sale convinces you to try a new brand or add an item to your list.

This scenario vividly illustrates the potent impact of sound harnessed through in-store audio. It seamlessly merges auditory engagement with in-store advertising, creating an unparalleled shopping experience.

In the ever-evolving landscape of retail media, where digital advertising tactics are in perpetual flux, a recent study by Vibenomics in June 2023 highlights the paramount importance of in-store audio as a retail media strategy and its remarkable ability to:

In-Store Audio Influences In-Store Purchase Decisions 

Despite the surge in online shopping and virtual stores, an astonishing 96% of consumers continue to explore the physical aisles of brick-and-mortar stores (P2PI Special Report, 2022). Vibenomics’ study reveals that 41% of shoppers make in-store purchases influenced by in-store audio. 

The power of sound to seize attention and guide decisions is undeniably captivating. Remarkably, 46% of shoppers derive joy from these audio advertisements, while an even more substantial 54% find them informative (Vibenomics Suzy Research, June 2023). In-store audio effectively grabs attention by:

In-Store Audio Directs In-Store Shoppers To Advertised Products

In the bustling realm of retail, where every part of the shopper journey  vies for attention, Vibenomics’ study uncovers that in-store audio acts as a seamless conduit, effortlessly guiding shoppers to the products advertised on the shelves.

Notably, in-store audio boasts a 14% higher visibility rate among shoppers compared to displays (Vibenomics Suzy Research, June 2023). This statistic underscores the effectiveness of in-store audio in captivating attention amidst the sensory overload of a retail environment. Unlike displays that might struggle to influence shopper behavior due to limited exposure and engagement, in-store audio emerges as an impactful force at the point of purchase. Key factors contributing to in-store audio’s guidance include:

In-Store Audio Empowers Advertisers to Conquer Brand Indifference

In the realm of shopper choice, where a myriad of brands clamor for attention, Vibenomics’ study reveals that in-store audio enables advertisers to harness brand awareness and ignite new customers as well as loyalty.

Cultivating a unique brand identity is pivotal. In-store audio becomes an invaluable ally, echoing a brand’s values and personality. Whether exuding a cheerful ambiance or a refined demeanor, in-store audio’s attention grabbing message captivates its intended audience. Through in-store audio, advertisers infuse personality and character into their brands.

Final Thoughts

Acknowledging the influence of in-store audio is crucial. The power of sound is a potent force in the realm of consumer shopping.

Getting Started with Vibenomics 

Vibenomics, a Mood Media Company, is the leading in-store digital advertising provider with 23,600+ shopping locations in the U.S. Our platform provides a single, all-in-one retail media network, empowering advertisers  to deliver an on-premise experience and to connect with customers via display, audio and experiential channels. 

Ready to learn how Vibenomics can elevate your Retail Media strategy with in-store audio? Click here to engage with Vibenomics today!

IAB: Opening the doors for in-store digital advertising and display

The Interactive Advertising Bureau (IAB) has included in-store digital advertising, along with onsite and offsite solutions in its 2023 Retail Media Buyer’s Guide. With U.S. retail media spend projected to increase from $31B in 2021 to $61B in 2024, accounting for over 17% of total U.S. digital ad spending, this growth highlights the vital role of in-store advertising in driving retail media and enhancing consumer engagement.

As in-store shopping continues to attract a larger audience compared to online platforms, the significance of digital retail media ad spending becomes even more apparent. Digital retail media ad spending is estimated to reach $40.81 billion in 2022 — more than triple its pre-pandemic levels — and expected to reach $61.15 billion in 2024. According to Forrester’s 2022 Retail Media Ad Sales Report, experts predict ad revenue growth across retail media networks in the U.S. market will double over the next four years.

By incorporating in-store offerings into their overall Retail Media strategy, retailers enhance the customer experience and enable effective mid-lower funnel advertising, empowering brands to target consumers at a critical point in the buying journey. This approach allows brands to deliver personalized messages that resonate with shoppers, increasing engagement and the likelihood of conversion.

Some effective mid-lower funnel strategies involve retargeting users who have previously interacted with a brand and utilizing dynamic product ads to showcase relevant products or services. These strategies aim to re-engage and remind users of their interest, increasing the chances of conversion and driving sales.

The In-Store digital advertising solutions, as described in the Buyer’s Guide, include multi-touch models and omnichannel strategies, enabling retailers to optimize and assess the effectiveness of in-store digital messaging. This definition reflects the evolving retail landscape in our dynamic “phygital” world, where physical shopping experiences meet innovative technologies to deliver an elevated and interactive consumer journey. 

Mood Media’s acquisition of Vibenomics creates a single point of integration for retail media platforms to access, deliver, measure and evaluate on-premise digital impressions via multi-touch models and omnichannel strategies such as the following:

Brands can tap into the value of retailers’ first-party data to utilize the digital technologies of retail media networks (RMNs) and leverage their in-depth understanding of customer preferences and behavior. The result leads to brands effectively targeting the right customers with their ads and campaigns, maximizing the impact and relevance of their marketing efforts. These innovative in-store strategies can help retailers create a dynamic, immersive environment, captivating shoppers, encouraging interaction and driving sales and customer loyalty.

As the IAB and its members have incorporated in-store digital advertising into the retail media buying landscape, there is a growing demand for modernization from brands seeking simplified and innovative approaches aligned with modern measurement standards.

Embracing the “phygital” shift in our changing ad landscape

The IAB has recognized the importance of in-store digital advertising for retailers and brands who want to engage consumers more effectively at the point of sale. Unlike the traditional, segmented approach, omnichannel strategies integrate onsite, offsite and in-store channels seamlessly, providing customers with a streamlined and cohesive shopping experience. 

This shift towards omnichannel strategies has benefitted retailers, with omnichannel consumers making purchases 70% more frequently. Phygital environments are an advanced iteration of omnichannel retail, combining in-store experiences and the technology of online environments. Brands and retailers must embrace digital solutions and personalized experiences to thrive in the evolving retail landscape. There are various options available for advertisers to capitalize on this trend. For instance, Kroger and Hy-vee have ventured into digital audio in-store to improve the customer experience and increase sales. 

Achieving retail objectives with a dedicated retail media team

Brick-and-mortar retailers should leverage retail media teams to carry out advertising strategies, monetize their physical spaces and enhance their revenue streams. Retail media teams can:

Vibenomics and Mood Media dominate retail media in-store advertising solutions

Vibenomics is a single integration point for retail media platforms to access, deliver and measure in-store digital impressions. With Mood Media’s advanced on-premise digital solutions, Vibenomics offers a turnkey solution – simplifying ad-buying and enhancing retailers’ owners’ management of customer experiences. This strategy equips brands and retailers to maximize and measure the impact of in-store digital messaging via multi-touch models and omnichannel approaches.

Over six years, Vibenomics has helped U.S. retailers increase purchase likelihood by up to 77% using audio in-store advertising. Understanding the needs of brands and retailers, Vibenomics has worked to create a simple solution for managing their owned and operated assets while integrating smoothly with other media in their stores.

Retailers can’t deny the importance of in-store digital advertising. Vibenomics, now within IAB’s 2023 Retail Media Buyer’s Guide, is undeniably positioned to provide retailers with in-store solutions that complement and strengthen the effectiveness of Onsite and Offsite strategies.

###

About the Author

Paul Brenner

Vibenomics // Senior Vice President, Retail Media and Partnerships 

With more than 25 years of experience in media & entertainment and advertising technology leadership, Paul Brenner served in several c-suite roles including division President with Emmis Operating Company [NASDAQ:EMMS]. As President of NextRadio/TagStation his work focused on global innovation through FM Chip activations in all smartphones for audience measurement, improved in-car user experiences, and data attribution platforms for all broadcast radio. In 2019, Paul joined Vibenomics as Chief Strategy Officer to help develop the go-to-market strategy for the company’s first-to-market Audio In-Store advertising solution. Following a successful launch, Brenner was promoted to President of Audio OOH to oversee all efforts surrounding revenue-generating activity and related partnerships. After the company’s recent integration with Mood Media, Paul was promoted to SVP of Retail Media and Partnerships, where he works to evangelize and innovate the In-Store segment of Retail Media.

3 Key Insights from P2PI’s Retail Media Summit

Even amidst the haze of wildfire smoke, our time in Chicago at the Path to Purchase Institute’s (P2PI’s) Retail Media Summit was nothing short of extraordinary! P2PI’s Retail Media Summit is an annual event with the goal of breaking away from traditional patterns of thinking and encouraging attendees to tap into new strategies that fully leverage the power of Retail Media. By embracing innovative approaches and adopting effective Retail Media strategies, participants can enhance their omni-channel initiatives and drive better results for their brands.  

There was a wide array of industry topics covered at this year’s P2PI’s Retail Media Summit designed to help CPG brands and retailers navigate the complicated and rapidly shifting arena of Retail Media. 

A few agenda items to highlight from this year’s Retail Media Summit include:

  1. Keynote: Andrea Leigh (Allume Group) emphasized the importance of meeting the shopper where they’re at and explained how in-store has a higher US monthly audience reach than digital.
  2. Session: Cara Pratt (Kroger Precision Marketing) highlighted the transformative impact of Retail Media on the industry and stressed the significance of adopting a unified marketing approach. 
  3. Campfire: Brian Gildenberg (CPG Guys Podcast) and Andrew Lipsman (Insider Intelligence) stressed the significance of Retail Media in building up the product and ensuring it’s not interfered with.
  4. Panel: Arthur Sylvestre (Danone) and Sheri Pasuco (Newell Brands) shared insights on how to effectively organize, budget, and measure success during the next wave of Retail Media growth.

3 Key Insights 

If you missed out on this year’s Retail Media Summit or just need a refresher, fret not! Here are Vibenomics’ 3 key insights from the 2023 Retail Media Summit –

  1. Retail Media is Changing Advertising 
  2. Meet the Shopper Where They’re At
  3. ROAS Isn’t the Only Metric for Success

1. Retail Media is Changing Advertising 

Retail Media is changing advertising’s impact and effectiveness. Keynote speaker Andrea Leigh, founder of Allume Group, stated, “Advertising is the force that opens up people’s minds to new possibilities.” Leigh’s statement highlights the influential role that advertising plays in shaping consumer behavior and perceptions. In the context of Retail Media, which refers to advertising strategies and technologies employed by retailers to monetize their digital platforms and reach their customers, there’s been notable shifts in the impact and effectiveness of advertising strategies and solutions.  

One of the key advantages of Retail Media is its ability to reach and influence consumers at every stage along the shopping journey. Through targeted advertising on their digital platforms, retailers can engage with customers during the awareness stage, introducing them to new products and brands. By tailoring advertisements based on consumer preferences and browsing behavior, retailers can deliver meaningful messages that resonate with the audience, capturing their attention and encouraging them to explore new products.

Retail Media has revolutionized the way consumers interact with advertising. By leveraging their digital platforms and first-party loyalty data, retailers enable brands to deliver personalized and targeted omni-channel campaigns that open up new possibilities for consumers. This shift has not only made advertising more effective but has also allowed retailers to measure and optimize their campaigns more accurately. As a result, advertising has become a powerful force in influencing consumer perceptions and driving consumer behavior in the modern retail landscape.

2. Meet the Shopper Where They’re At 

Meeting shoppers in the physical store is a critical element of implementing a successful Retail Media strategy. Despite the growth of e-commerce and online shopping, 91% of sales happen in-store. In-store is also the closest proximity to the product. Therefore, it’s important for retailers to focus on enhancing the in-store experience and leverage Retail Media to engage and influence shoppers.

Brands increase their reach by 70% when they focus on in-store. Andrea Leigh (Alume Group) shared a bar chart that compared in-store US monthly audience reach to digital US monthly audience reach. The data showed an increased audience reach in-store compared to digital for well-known retailers like Lowes, Walgreens, Kroger, and Costco. This information underscores the importance of investing in strategies that optimize the in-store experience and effectively utilize Retail Media to engage and influence shoppers. 

There’s no denying that technology advancements are making it easier and more efficient to put the right content in front of the right customer when propensity to spend is highest. While sometimes digital displays can limit the impact of shopper behavior due to restricted exposure and engagement, in-store audio’s ubiquitous nature has the ability to influence shoppers at the point of purchase because:

Think of the shopping journey as a funnel. Brands want to increase awareness through audio in-store, drive intent by getting the shopper to the right aisle, and enable conversion by getting the shopper to care enough to make a purchase. 

3. ROAS Isn’t the Only Metric for Success

ROAS (Return on Ad Spend) is a crucial metric for measuring the effectiveness of advertising campaigns in terms of generating revenue. However, when it comes to Retail Media, there are additional metrics and considerations beyond ROAS that are important to understand and leverage in determining whether or not a campaign is deemed successful. One such aspect is the focus on consumer relationships. Advertisers can gain a comprehensive understanding of the impact of their advertising efforts through the following metrics:

Consistent measurement remains a crucial aspect in assessing campaign success. Standardizing reporting and data transparency is a top priority, although it requires significant effort from both brands and retailers to establish this consistency and measure impact accurately.

While ROAS remains an essential metric for measuring the financial performance of your advertising efforts, it’s crucial to recognize the broader benefits of Retail Media beyond immediate sales lift. By focusing on consumer relationships, you can cultivate loyalty, advocacy, and long-term value, ultimately contributing to the growth and success of your business.

Wrap Up

P2PI’s Retail Media Summit proved to be a beneficial event, offering a deep understanding of the ever-changing landscape of Retail Media. The knowledge gained from this event will undoubtedly benefit CPGs, retailers, and solution providers in their pursuit of enhancing omni-channel initiatives and achieving superior outcomes for their brands and businesses.

By embracing the insights shared at the summit, organizations can navigate the evolving world of advertising, recognize the significance of engaging with shoppers in-store, and prioritize consumer relationships in their measurement strategies. Armed with this knowledge, they will be well-equipped to adapt to the dynamic nature of Retail Media, connect with their target audience effectively, and achieve sustainable growth in the competitive retail industry.

Onto the next one! Don’t miss out on P2PI LIVE 2023 in St. Louis this upcoming November. P2PI LIVE is a premier event that aims to provide a comprehensive and enriching experience for professionals in the commerce marketing industry. Join Vibenomics as we continue to revolutionize the next generation of Retail Media in-store!

About Path to Purchase Institute 

Path to Purchase Institute (P2PI) is a global association that provides insights, knowledge, and networking opportunities to consumer goods professionals involved in the path to purchase. They focus on helping businesses understand and optimize the consumer journey from the initial consideration of a product to the final purchase decision. 

P2PI offers a variety of resources, including research reports, case studies, webinars, and events, to help their members stay up-to-date on industry trends and best practices. They also provide a platform for networking and collaboration among professionals in the consumer packaged goods (CPG) industry.

Getting Started with Vibenomics

Vibenomics, a Mood Media Company, is the leading in-store digital advertising provider. Our platform provides a single, all-in-one Retail Media network, empowering retailers to digitize their on-premise experience and advertisers to connect with customers via display, audio and experiential channels. 

Through a first-of-its-kind turnkey solution, this model delivers the ubiquity and revenue-generating capabilities needed to drive the next iteration of Retail Media. Ready to learn how Vibenomics can elevate your Retail Media strategy? Click here to engage with Vibenomics today!

Next Page »